Standard Chartered expands corporate solutions to additional Asian markets

Standard Chartered has announced the expansion of Straight2Bank Pay, its digital collections gateway for corporate clients, to additional markets in Asia to further support its clients’ growing e-Commerce and m-Commerce aspirations.

Now available in China, Hong Kong, India, Malaysia, Singapore and Vietnam, with more to come including Bangladesh and Kenya, the proposition is designed to simplify collections from various payment methods including instant and QR-based payments, bank transfers, cards and mobile wallets across online, mobile and in-store interfaces.

Through direct connectivity to instant payment schemes across its key footprint markets, along with the partnerships with leading payment service providers and fintech players, the bank is targeting the growing need for efficient digital collections among corporates. Clients can now rely on the bank as their single collections provider – this means they no longer need to establish multiple technical connections, open multiple accounts, negotiate multiple contracts or undertake due diligence on multiple partners, resulting in operational efficiencies and cost savings.

Another recent addition to the product suite is the Straight2Bank Pay mobile app for corporates. By generating a dynamic QR code using the app, corporates can collect funds in-person from their customers for in-store or payment on delivery scenarios, while their customers can pay by simply scanning a QR code with their mobile device. The app also notifies the corporates’ in-store staff or delivery agent of the transaction status in real-time.

The app is now available for download in Singapore at the Apple App Store and Google Play Store, with more markets in the pipeline.